A well-drafted prenuptial agreement has the power to do more than protect personal assets for individuals planning to walk down the aisle in Ohio. A prenup can also be used by a business owner wishing to determine how their company's assets will be handled during a marriage. For example, it could be kept as separate property, considered marital property or divided up according to a predetermined asset split plan.
Noncustodial parents who want to apply for a mortgage in Ohio should be aware that child support is considered a type of debt. If there are overdue child support payments, they can be counted as a derogatory credit event and negatively impact the chances of being approved for a mortgage. However, having child support arrearages on one's credit record does not mean that it's impossible to qualify for a mortgage.
One of the most difficult logistical aspects of going through a divorce is trying to figure out the finances. Some people think this is going to be a simple transition, but you might soon discover that going down to one income and having the increase in expenses due to the divorce make this challenging. You have to take the time to set a plan in place that works toward stabilizing your financial future.
Many Ohio parents may be concerned about how to best help their children get through their divorce feeling loved and supported. Parental divorce can be challenging for kids, and they may feel uncertain about the future. Even the practical elements, like moving back and forth between their parents' houses, can be demanding for kids. However, by keeping some key guidelines in mind, parents can help to protect their relationship with their children and help them to feel safe and secure despite the difficult times.
Roughly 40% of children in the United States are born out of wedlock. This means that many fathers in Ohio and throughout the country are not married to their son or daughter's mother. However, unwed fathers generally do have rights to their children as long as they are deemed to be fit to have them. To obtain those rights, a man first needs to establish paternity. This can be done by adding his name to the baby's birth certificate with the mother's permission.
Millennials are more likely than previous generations to keep their finances separate after they get married, but many experts say this will not necessarily protect them financially in case of a divorce. This is true even though Ohio is not a community property state.